StartOptions (a white label version of TradeSmarter – see inset box) has grown by leaps and bounds in the last year. We have been excited to read about all their new offerings (securities), and their big dip into the bonus cash pool (it was about time!). Although the big bonus cash offer ended last November, we hope the big increase in participating clients during the offer motivates them to bring the big money back. We’ll let you know of course (just like we did last time!).
Review of Binary Options Broker StartOptions
What’s to like about StartOptions? Well first off let’s just say StartOptions hasn’t forgotten about the BIG YIELDS that binary options trading is *supposed* to be all about. While I’ve spent most of the day reviewing other brokers (you’ve read the other reviews too, right? lol just giving you a hard time…) and watching their contracts price in the range of 70%+/- and now I’m watching StartOptions site and what do I see? BAMMM! 85% yields on EUR/USD. Now THAT’S what binary options are supposed to be about!
Ok, let’s forget about the hoopla of the big yields on that EUR/USD contract that just expired. They promise yields of UP TO 81% (which makes the 85% yielding forex contract a minute a go quite nice indeed!). They also promise to pay up to 10% refund on binary options trades which expire out of the money. That’s not bad relative to most other brokers in the industry (refunds range from 0-15%). They’re strong in their offerings of binary options on stocks and forex but kind of weak in the area of indexes. Hey, you can’t please everyone right?
Trade Sizes and Restrictions
All trading is done in US dollars (deposits are converted at the prevailing exchange rate at time of deposit), and all trading is locked out with 10 minutes left before expiration. Nothing out of the ordinary here. Information on maximum trade size or number of positions was not immediately available at the time of publication. Keep an eye in the comments section for more information as it becomes available.
Presently the site is offering bonus cash in the range of 20-40%, for new clients depending on the size of the initial deposit. Someone who deposits $5000 can receive up to a $2000 bonus. Like all the other binary options brokers listed the bonus cash is restricted until a certain level of trading volume had been reached. There are two categories of bonuses they offer (present offer appears to be a “pending” bonus). The pending bonus trading volume is equal to 15 times the BONUS amount. Although the “pending” bonus trading volume *sounds* like a lot, it really is quite manageable.
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Different from the “pending” bonus is the “immediate” bonus. Immediate bonuses are restricted from withdrawal until trading volume of 15 times the bonus plus deposit have been reached. This figure, on the other hand… 15 times combine deposit and bonus IS a lot of volume relative to industry norms.
Depositing and Withdrawing Funds
Accounts can be funded in US dollars, Euros, and British Pounds. Expect the usual when it comes to withdrawing funds. Clients can move funds back and forth for free using a credit or debit card but expect to pay a $30 wire fee for wires. Nothing unusual there really.
The minimum initial deposit is $100 (or 100 Euros or British Pounds), whereas the maximum deposit is $5000 (or 5000 Euros, etc.).
StartOptions offers a nice range of securities, including the recent addition of a few Chinese stocks. Have a look and I think you’ll agree StartOptions has quite a lot to offer.
Apple Google Cisco Microsoft Barclays BP RBS HSBC BHP Billiton Commonwealth Bank CSL Macquarie Group Newcrest Mining Rio Tinto Lloyds Tesco Total Sanofi-Aventis Alcatel-Lucent BNP Paribas AXA France Telecom l’Oreal Carrefour NetEase PetroChina China Mobile Ctrip China Life Sina Corporation China Petroleum Perfect World
EUR/USD USD/JPY GBP/USD GBP/JPY AUD/USD EUR/GBP EUR/JPY NZD/USD
Crude Oil Future Gold Future Natural Gas Future Copper Future Silver Future
FTSE 100 NASDAQ S&P 500 S&P/ASX 200 CAC 40
Visit StartOptions today!